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Form 100. Personal Income Tax Declaration 2018 Business social security plans

Contributions made by workers to corporate social security plans, including the contributions of the policyholder, will reduce the tax base.

Business social security plans must meet the following requirements:

  1. The principles of non-discrimination, capitalization, irrevocability of contributions and attribution of rights established in number 1 of article 5 of the Law on the Regulation of Pension Plans and Funds will apply to this type of insurance contracts.

  2. The policy will establish the premiums that, in compliance with the social security plan, the policyholder must pay, which will be charged to the insured.

  3. The conditions of the policy will expressly and prominently state that it is a corporate social security plan. The name Business Social Security Plan and its acronym are reserved for insurance contracts that meet these requirements.

  4. The contingencies covered must be, only, those provided for in article 8.6 of the Consolidated Text of the Law on the Regulation of Pension Plans and Funds, and must have retirement coverage as their main coverage. Advance provision, total or partial, will only be permitted in these contracts in the cases provided for in article 8.8 of the aforementioned Revised Text.

  5. This type of insurance will necessarily have to offer an interest guarantee and use actuarial techniques.